XRP has emerged as the top-performing cryptocurrency among the ten largest by market capitalization, currently trading at $3.05 following a 5.3% gain over the past 24 hours.
This short-term recovery comes on the heels of a difficult few weeks in which the token lost the $3 support level, reflecting the ongoing volatility that continues to define the digital asset landscape.
Despite the recent turbulence, investor sentiment around XRP appears resilient. Over the past month, the token has risen by almost 39%. The asset also hit a new all-time high in July, and its recent performance points to sustained interest even as broader market conditions remain cautious.
However, trading volumes have retreated notably from July’s peak. Data shows that 24-hour turnover has declined, now standing at $6.27 billion. This suggests that market enthusiasm has cooled, though accumulation continues.
AI Forecast Suggests Moderate Upside
To estimate XRP’s potential movement through the end of the month, we’ve referenced Finbold’s machine learning framework, which is powered by multiple large language models (LLMs). These AI agents considered numerous factors, including market indicators, such as the MACD, RSI, and more.
Based on this analysis, XRP is projected to reach an average price of $3.12 by August 31. This suggests a modest upside of 2.295% from its current value. While the models generally pointed to bullish continuation, there was a wide range of outcomes depending on the assumptions and indicators emphasized.
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According to Finbold, Claude 3.5 Sonnet offered the most optimistic outlook, projecting a 15% increase amid expectations of improved liquidity and potential regulatory clarity.
In contrast, GPT-4o predicted only a slight rise. While Grok 2 Vision flagged downside risks, suggesting a possible dip to $2.8, a price another analyst recently highlighted as a crucial level to watch if the asset falls.
Market Outlook Hinges on Legal and Technical Factors
XRP remains above its 50-day simple moving average, suggesting a constructive technical structure. However, failure to hold July highs and mixed momentum indicators have added uncertainty. The $3 level now serves as key support, with upcoming price action likely influenced by sentiment surrounding the SEC vs. Ripple case.
A joint status update in the case is scheduled for August 15 and is drawing widespread attention with predictions that the lawsuit will end on that date. Though procedural, the filing may offer clues on regulatory direction. The SEC has shown a favorable stance toward cryptocurrencies, and the end of the lawsuit could help XRP outperform expectations.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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